In a recent video, JB from Cheeky Crypto discusses Bitcoin’s market analysis, including its current price, market cap, on-chain data, and potential price targets. The video also explores various technical indicators and speculates about Bitcoin’s future direction.
Market Overview
Bitcoin’s total market cap is currently $1.09 trillion, with a 2.43% pullback in the last day. The Fear and Greed Index is at 44%, indicating neutrality. Bitcoin’s price is currently at $27,588, down from $28,000 over the past 7 days.
On-Chain Data
On-chain data for Bitcoin includes 48.9 million total addresses, 921,000 active addresses in the last 24 hours, and 340,000 total transactions in the same period. Liquidations in the last 24 hours amounted to $36.4 million, with 68.97% being long positions and 31.03% being short positions. Binance had the highest amount of liquidations at $12.2 million.
Price Analysis
Bitcoin’s price analysis suggests a potential move to the downside, with targets between $21,000 and $112,000. Various fair value gaps on the CME chart are mentioned as potential price targets.
Conclusion
The video concludes by encouraging viewers to like, subscribe, and trade safely.
